Indonesian retail giant to enter SL

Mitra Adiperkasa (MAP), one of Indonesia’s largest franchise operators for foreign fashion and food brands is expected to expand its operations to Sri Lanka in the near future.
The opening of the MAP Chain in Sri Lanka was revealed by the former president of the Sri Lanka-Indonesia Business Council (SLIBC), Jatinder Biala at the council’s 22nd Annual General Meeting (AGM) recently.

The chain operates 1,900 stores, over 150 brands and employs more than 23,000 employees in 65 Indonesian cities. “They have already taken steps to promote their products in Sri Lanka. Very soon they are opening a subsidiary in Sri Lanka,” Biala told the participants of the AGM.

He also stated that popular Bollywood actress Jaqueline Ferdinandez would be their brand ambassador.

Speaking at the meeting, Indonesian Ambassador to Sri Lanka Harimawan Suyitno said that the total trade values had reached more than US$ 630 million in 2014. “In fact, Indonesia is the seventh largest exporters to Sri Lanka,” he said.

Indonesia has been a supplier to Sri Lanka of coal, oil, organic, chemicals, paper and rubber.

The new president of the council, Jayantha Rathnayake said that the present government had understood the gaps in attracting a desired level of investment in to the country, and had pledged to make changes in the micro-economic policies where needed.

“It is revealed that micro-economic policies of the new government comprise of four main sectors aiming at creating a business-friendly environment. Thus Monetary policy, Fiscal policy, Public Private-Partnership and Exchange and Trade Policy would be restructured,” he said.